IMF grants extension on Liberia's Extended Credit Facility Arrangement

The International Monetary Fund (IMF) recently approved a $71.8 million Extended Credit Facility (ECF) Arrangement with a $44.9 million augmentation for Liberia through a three-month extension by IMF's executive board.

The original ECF was approved in 2012 and was granted to assist Liberian officials in  strengthening the country fiscally and structurally, fund public financial management, pay off public-sector debts and build international reserves.

All of these goals must be achieved before the fourth ECF review and disbursement, set for Feb. 18, 2016.

While Liberia fought the recent Ebola outbreak, the IMF board granted an augmentation in September 2014.